Investment enables innovative Durham AI company to expand
Published on 30/11/2020
Durham based gliff.ai has received another round of investment from funds managed by Northstar Ventures, the North East Innovation Fund supported by the European Regional Development Fund and the newly launched Norther Accelerator Seed Investment Fund (NASIF).
The £375,000 investment means the company, which develops tools to support the creation of Artificial Intelligence (AI) for healthcare and life science applications, can expand its team to a total of ten employees, including seven PhDs.
gliff.ai is a spin-out from Durham University’s computing department. The company, previously called Intogral Ltd, originally concentrated on developing its own medical diagnostic products using AI but this latest investment allows the business to expand further into the leading edge of Data Science. The company’s plans are to double in size every year with the ambition to recruit and retain the best graduates from across the North East Region and internationally.
Bill Shepherd gliff.ai’s CEO said, “We are absolutely delighted that our Durham company can continue to grow at the global leading edge of technology innovation. The world is becoming more and more reliant upon artificial intelligence. AI is only as good as the data that is used to create it. Our products will make AI safer and easier to use.”
Rick Charnley, Northstar Ventures Investment Manager said, “We’ve been impressed by the team and the vision since their launch in 2018 and are pleased to continue to support their exciting growth with more investment from the North East Investment Fund and NASIF. The NASIF is aimed at showcasing and supporting the high quality companies spun out of North East universities and gliff.ai is a brilliant example of how innovative spin outs can expand globally while based here and providing quality jobs in the North East.”